Card owners have the right to challenge transactions made by their cards without their consent. Such complaint is first filed by the card owner to the issuer bank and the bank demands detailed information with regards to claimed transaction from the merchant. In case the card owner was deemed to be right, issuing bank terminates the process by claiming the amount subject to disputed transaction from the business and refunding it to the card owner’s account. This transaction is called chargeback. It is also known as “refunds” among users.
Banks need to abide by the rules set by the card organizations in such transactions. This procedure is not valid only for certain banks or solely for Turkish banks. The challenge procedure is the same in everywhere where card organizations’ rules are valid. This means that chargeback form doesn’t change in domestic transactions or card transactions made abroad. As iyzico, we investigate these processes diligently and contact the merchant and/or the customer and solve such issues in a couple of weeks.